Finance

Finance

IBA-Moscow marks 10th anniversary

26 January 2012 13:38 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. The International Bank of Azerbaijan â€“ Moscow (IBA-Moscow) is marking the 10th anniversary of its operation at Russian financial markets.

Results of 10-year activity of IBA-Moscow enable to speak with confidence about correctness of the decision taken once. Today, IBA-Moscow is a universal bank which is in ranks of Top 150 largest Russian financial institutions. The Bank annually demonstrates ongoing dynamics of development by providing complex financial services to businesses and individuals at the advanced level.

For 10 years IBA-Moscow has been playing a significant role in creating the conditions for strengthening economic relations between the business structures of Azerbaijan and Russia, by pursuing transparent credit and financial policy in service and investment of joint business projects, which ultimately helps increase trade turnover between the countries. The Bank is actively involved in the financing of various spheres of Russian economy, and provides support to both domestic and foreign companies, thereby strengthening integration of ties within the CIS and the international business community.

For the past period IBA-Moscow has confirmed and strengthened its status of a reliable credit & financial institution, demonstrating the positive dynamics of growth of financial indicators, expanding its customer base and geography of its own presence. Thus, the volume of Bankâ€™s assets by late 2011 amounted to 22.4 billion rubles, owned capital rose up to 2.13 billion rubles, volume of loans to legal entities exceeded 16.8 billion rubles. Besides, the Bank observed an increase in customer accounts of individuals and entities (up to 7.3 billion rubles) that testifies of their stable confidence to the Bank. Currently, the Bankâ€™s network is represented by 14 sales offices in Moscow, St. Petersburg and Yekaterinburg. IBA-Moscow plans further business expansion in Russia, first of all by opening offices in the Moscow region and in the European part of the country. In the near future Bankâ€™s branch will open in the city of Nizhny Novgorod.

In December 2011 international rating agency Moodyâ€™s Investor Service assigned first time to IBA-Moscow the long-term and short-term deposit rating in rubles and foreign currency at B3, as well as stand-alone bank financial strength rating at E with a stable outlook. Agency Moodyâ€™s Interfax, in turn, assigned to the bank the long-term credit rating on national scale Baa3.ru.

IBA-Moscow, proven over years as reliable business partner is constantly improving service, infrastructure of service by developing new customer demand trends of the banking business. IBA-Moscow continues work on implementing the strategic plan for 2010-2015, developed joinly with PricewaterhouseCoopers. As a result of plan implementation IBA-Moscow expects to enter in ranks of one of the best (TOP-100) Russian banks.